A recent report published by Infinium Global Research on liquid nitrogen market provides in depth analysis of segments and sub-segments in global as well as regional liquid nitrogen market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional liquid nitrogen market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global liquid nitrogen market. According to report the global liquid nitrogen market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.
Liquid Nitrogen is the liquidized form of nitrogen elements (commercially produced by fractional distillation of liquid air) with extremely low temperature. Liquid nitrogen is the inorganic, clear and colorless liquid used in various cooling and cryogenic applications. As the liquid nitrogen is extremely cold it can freeze any living tissue which comes in contact with it. Liquid nitrogen is the largest volume of inorganic chemical sold in the world. Liquid nitrogen has various applications including food freezing, biological sample preservation, plastic rubber, and other temperature-related application.
The key factor driving the market growth is the rising uses of liquid nitrogen in the food processing owing to the eco-friendly and less time-consuming properties of liquid nitrogen as well as they do not affect the quality, texture, and color of the products. In addition, growing electronics, healthcare, and food, and beverage industries are likely to boost the growth of liquid nitrogen market. However, the direct contact-related issues of liquid nitrogen are expected to restrain the market growth of liquid nitrogen. Moreover, rising applications of liquid nitrogen in cryotherapies, cryosurgeries, and cryopreservation for curing skin, removing skin tags, skin cancers and moles are projected to create various opportunities in the liquid nitrogen market in upcoming years.
Among the regions, the North America accounts for the largest market share in the liquid nitrogen market. The frozen ice-cream is one of the trending food product in the North America region. The liquid nitrogen is used to produce frozen ice-cream. In addition, Asia-Pacific is growing at the fastest rate in the liquid nitrogen market. The rapidly growing automotive, metal, fabrication, food processing industries are creating the demand for liquid nitrogen which is expected to escalate the market growth in this region.
The report on global liquid nitrogen market covers segments such as process types, function and end use industry. On the basis of process types, the global liquid nitrogen market is categorized into cryogenic air separation and absorption. On the basis of function, the global liquid nitrogen market is categorized into coolant and refrigerant. On the basis of end use industry, the global liquid nitrogen market is categorized into chemicals & pharmaceuticals, healthcare, metal manufacturing & construction, food & beverages, rubber & plastic and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global liquid nitrogen market such as, Messer Group, The Linde Group, AMCS Corporation, Taiyo Nippon Sanso Corporation, Praxair Inc., Asia Industrial Gases Pte. Ltd., Cryomech Inc., Emirates Industrial Gases Co. LLC.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global liquid nitrogen market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of liquid nitrogen market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the liquid nitrogen market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the liquid nitrogen market to understand the present and future trends in this market and formulate their strategies accordingly.
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